Horizon Bancorp, Inc. (NASDAQ:HBNC) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its position in Horizon Bancorp, Inc. (NASDAQ:HBNC) by 1.6% in the third quarter, HoldingsChannel reports. The fund owned 96,671 shares of the financial services provider’s stock after selling 1,609 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Horizon Bancorp were worth $1,503,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of HBNC. Dimensional Fund Advisors LP boosted its position in Horizon Bancorp by 6.3% during the second quarter. Dimensional Fund Advisors LP now owns 2,276,566 shares of the financial services provider’s stock worth $28,160,000 after purchasing an additional 135,217 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Horizon Bancorp by 11.9% during the 2nd quarter. AQR Capital Management LLC now owns 478,205 shares of the financial services provider’s stock valued at $5,915,000 after buying an additional 50,666 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Horizon Bancorp by 3.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 341,317 shares of the financial services provider’s stock valued at $4,222,000 after acquiring an additional 12,357 shares during the period. Foundry Partners LLC increased its holdings in Horizon Bancorp by 67.6% in the 2nd quarter. Foundry Partners LLC now owns 124,360 shares of the financial services provider’s stock worth $1,538,000 after acquiring an additional 50,143 shares in the last quarter. Finally, Empowered Funds LLC increased its holdings in Horizon Bancorp by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 111,394 shares of the financial services provider’s stock worth $1,732,000 after acquiring an additional 5,628 shares in the last quarter. 64.51% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. StockNews.com raised shares of Horizon Bancorp from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Hovde Group assumed coverage on shares of Horizon Bancorp in a research note on Monday, September 30th. They issued an “outperform” rating and a $18.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $16.00.

Horizon Bancorp Trading Down 0.6 %

Shares of HBNC stock opened at $18.29 on Friday. Horizon Bancorp, Inc. has a fifty-two week low of $10.78 and a fifty-two week high of $19.18. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.88 and a current ratio of 0.88. The stock’s fifty day moving average is $16.48 and its two-hundred day moving average is $14.76. The firm has a market capitalization of $799.64 million, a P/E ratio of 38.92 and a beta of 1.03.

Horizon Bancorp (NASDAQ:HBNC) last posted its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $0.41 EPS for the quarter, beating the consensus estimate of $0.37 by $0.04. Horizon Bancorp had a return on equity of 8.27% and a net margin of 5.89%. The firm had revenue of $102.40 million during the quarter, compared to analysts’ expectations of $58.23 million. During the same quarter last year, the firm earned $0.37 earnings per share. Research analysts expect that Horizon Bancorp, Inc. will post 1.4 earnings per share for the current fiscal year.

Horizon Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Friday, October 4th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 3.50%. The ex-dividend date was Friday, October 4th. Horizon Bancorp’s payout ratio is presently 136.17%.

Horizon Bancorp Profile

Horizon Bancorp, Inc operates as the bank holding company for Horizon Bank that engages in the provision of commercial and retail banking services. The company offers checking, saving, money market, certificate of deposits, individual retirement accounts, and time deposits, as well as non-interest- and interest-bearing demand deposits.